Every individual dreams of having a comfortable lifestyle where they can enjoy the fruits of their labor. This may include having a beautiful house, a car for a convenient transport, and a growing retirement fun that will secure your future. Also, you want to be able to enjoy your senior years and not end up being an employee longer than you should. These are all practical plans that every person sets for the future, which is why while they are earning money from their jobs or businesses, they need to come up with ways to make these goals happen. A strategic plan of action, along with a sense of discipline are all necessary in making sure that your life for the future is secured. Otherwise, you run the risk of having to work until your old age and not being able to bask in a comfortable life that you deserve.

The following tips on how to save money will guide you in attaining a more stress-free day to day life, as well as a comfortable retirement. Check out these money-saving techniques that may be worth applying in your particular situation.

1. Have your income credited straight into your savings account

During payday, there is the temptation to spend and buy unnecessary items that you have probably been eyeing for at the store for quite a while. If your goal is to save money and grow your funds, the last thing you want is to get into a shopping spree that will only drain your finances. Some people have a hard time with restraining themselves and controlling their desire to shop even for things they do not really need.

To prevent yourself from getting into the traps of overspending each time your payday comes, you may want to have your salary instantly credited into your personal bank account. This means that you will have to give to your employer the updated information of your bank account. Comply with the terms and conditions set by your bank, which ensures the proper crediting of your income. Singapore offers two types of savings account with good monthly interest rates for their clients. These include the DBS Multiplier Account and the OCBC 360 Account. Choose banks that provide competitive interest rates that will help grow your money over time, so you will have a solid cash inflow from your savings account.

If you ever get caught in trouble in paying off your monthly credit bills, you can always approach the licensed money lenders in Singapore as they offer payday loans. Read up on: What is Payday Loan And what exactly are Payday Loan Lenders?

2. Go for the stronger and more dependable currency

Based on studies by the Economist Intelligence Unit, a reliable currency that has been performing well for the past years is the US dollar. In fact, it has been much stronger as compared to the Euro, which is starting to decline. So, it is worthwhile to take advantage of this fact by converting a portion of your money to the US dollar to maximize your earnings. As the currency continues to get stronger, this will also impact your savings.

Aside from this practical benefit of the US dollar to your financial goals, converting your money into this currency offers another advantage. If your money is in US dollars, you will find it not as easy to keep spending your money. After all, you will have to settle some fees involved for the currency exchange, which proves to be very inconvenient and expensive at the same time. Then, you will not have much desire to head to the nearest currency exchange establishment, and this will prevent you from spending more than you should.

3. Forget about eating out too often

One of the most expensive and impractical things that people tend to do during payday or even on a regular basis is to eat out. In Singapore, there are massive selections of great places to eat where various cuisines are offered. However, the price of each meal can be very costly, and the expenses surely add up if you keep eating out.

This is why if you want to put an end to unnecessary spending, then it may be time for you to be more active in the kitchen and cook your own meals. Make a list of your grocery items and stick to what you have in the list instead of buying things on an impulse. It is always much cheaper to buy ingredients and make your meals than to buy, so do your best to maintain this habit. You can also go out to eat once in a while, perhaps twice a month if you wish. But be sure to set a budget to avoid overspending.

Do not be intimidated by the thought of preparing your own meals. You do not have to be an experienced chef to cook delicious food. Moreover, there are very simple meals that are not a burden to prepare even if you have a hectic lifestyle. These include scrambled eggs or omelet with fried rice. As for buying your ingredients, heading to the wet market is always the cheapest and most practical way to go. This should help you in decreasing your food expenses, considering the fact that you have to make rental payments at the same time. Thus, you should start tracking your money and expenses!

4. Satisfy your craving for good books by reading them free of charge

Are you a self-confessed bookworm? In this case, you can still feed your craving for a good book without having to pay a single dollar by heading to the nearest library. There are tons of books that you can find, which you can read absolutely free of charge. Choose from a wide range of genres available, and you should be able to find just the right one that matches your preference.

If you are into technology, however, you may check out the internet for free e-Books that are up for grabs. These e-books range in topics from health, finances, travel, and so on. With so many options to get free books (digital or not), you no longer have to pay a single dollar just to continue your passion for reading and researching.

5. Apply for gym memberships on a cheap

Did you know that even if you want to save money, this does not mean sacrificing your desire to stay fit and healthy? In fact, you can continue joining gyms or fitness centers without paying a hefty price. There are now some fitness centers in the country that provide cheaper membership fees for your daily workouts. So, you can reap amazing benefits to your body and curb your expenses at the same time.

Another option for your workouts would be using exercise facilities in schools and universities. You can go to these institutions and use their exercise equipment at a reasonable fee. Just be sure to inquire how you can use the equipment, as well as their policies and guidelines.

6. Do your workouts for free

Working out at a gym is a good way to build muscles and make use of facilities that are not available elsewhere. So, you do not have to prevent yourself from having this experience, particularly if it means a lot to you. As long as there are cheaper options to do it, then you should explore these ways to avail of competitive rates for a gym membership.

But at the same time, you can also get fit and boost your health by doing your exercise outdoors. Heading to the nearest park or just doing some brisk walking or jogging in any pavement nearby can strengthen your body. If you are more interested in cycling, then you can also do so just around the neighborhood as you wish.

7. Avoid keeping up with the latest gadgets

Buying the latest model of smartphone or other gadgets can be very expensive. This can certainly ring up a huge amount on your credit card or even drain your finances too easily. This is why if you want to continue having a reliable gadget, yet you want to save money at the same time, then you may consider settling for an older model for your phone. After all, why should you even keep up with the world when you will only end up getting broke? There are less popular brands that work equally well, which are also priced reasonably. Thus, these are worth buying to help you save more money along the way.

8. Buy only when necessary

You may frequently find stores that have a huge SALE banner all over their windows or even on billboards. But then, should you really head to the mall to take advantage of these discounted prices all the time? Keep in mind that malls always have sales whenever there are public holidays, so you can always head out whenever there is a need to buy. So, unless you need anything because it is a basic necessity, do not go out to shop and buy things on a whim.

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